Head of Property D&F (International), Global Insurer

Our client is an international carrier that had recently undergone significant integration between two newly merged businesses, one an international company and the other a blue-chip Lloyd’s entity. The brand had a strong name within the market, but had suffered considerable underwriting losses of late, which had been one of the catalysts for it to realign the overall portfolio and restructure the business to ensure it was fit for purpose going forward.

It was widely known that the business’s results had been poor in the 18 months prior to going to search. This, coupled with the fact it was taking time for the two recently merged entities to work harmoniously together meant the market perceived the business as being in disarray. Our job was to illustrate to candidates how this viewpoint was short-sighted and not the whole story.

In addition to this, the open market international D&F property sector had witnessed considerable hiring activity in the years leading up to this search and it was expected that many people were likely to have been approached for roles recently. It was vital to position the business in the best light possible to the candidates, in order to attract best-in-class talent.

• Damhurst undertook thorough research into the market, looking at both the open market international and global D&F property sectors, where individuals within these teams may underwrite both US and non-US business.
• We mapped these markets out in their entirety into one universe, seeking third-party commentary and feedback on each team and the relevant people within them.
• When discussing the credibility of the potential candidates in our universe with sources, it was important to assess their ability against four core criteria:
  • Leadership
  • Underwriting strategy and portfolio management
  • Technical knowledge and understanding
  • Collaborative approach
• The client wanted a genuine underwriting leader who had already held or could take on a leadership role not just by virtue of their underwriting strength but because they were natural leaders who could bring out the best in their teams and create working environments where high underwriting standards were adhered to, and authenticity was encouraged. We therefore carefully questioned leadership style during referencing.

• The longlist comprised candidates with differing experience, from both the Lloyd’s and company markets.
• Damhurst ensured as diverse a longlist as possible, speaking to many different sources during longlisting.
• In addition to the longlist, we also highlighted up-and-coming diverse talent in the sector.
• Upon disclosing the company to candidates during interview, we had to reframe the market narrative into a truthful and optimistic analysis of the current state and future potential of the business. This resonated well with candidates.

The preferred candidate had an outstanding reputation within the international D&F property open market, noted for their fair and inspiring leadership qualities. However, she had some reservations over the timing of such a move due to the fact her children were nearing the stage of taking important national exams and needed extra attention.

She had been within her existing company for several years and felt she had earnt the trust and flexibility she was afforded there, which enabled her work and home life to be in sync – she worried the stakes were too high to relinquish this and risk not having the same freedom elsewhere.

Damhurst worked closely with the client’s chief people officer to listen to the candidate’s concerns. We reassured her the business supported working parents and would allow her genuine flexibility while carrying out her role. This empathetic response persuaded the candidate to accept the offer and resign.